Bitcoin Forum

i dont know what happen,please tell me if you know them !!!
I see from time to time now crypto is similar casino online especially the exchange..

Because crypto has not been regulated yet, people can not use it for their daily basis that is why most of them created online gambling because it does not need legalization and it can be done online. There is some people use it for payment system on their store but it is very few in number because of legalization issue.
If we can somehow get support from the legislator, crypto will not be used mostly for online gambling but it will be used in many industries.

That means you don't know what the speculation market should be. People are being crazy to create more and more money. So many cryptos and more users have come to the cryptocurrency right now.
In a casino, you are betting on the algo that has already made by the broker of the casino itself but it sounds similar to this ( exchange site).
But that's how to exchange site works. Some people have the same thought like you because they are thinking exchange site just like a casino these days but they forget if crypto is a speculation market that filled by so many traders between one to another person through use middle party as a way to trade. The regulation will not help a lot in this case but that will bring more restriction to the exchange site to manipulate its own exchange site.

Legalization in crypto is not yet clear and there are no rules. Online gambling on crypto is common. from 2016 I joined crypto many online gambling utilizing crypto. Online gambling gets a lot of support and a sizable project. Crypto and blockchain technology can enter in all fields, especially gambling.

With this, could you please elaborate how cryptocurrency is being similar to casino online? Because exchange and casino is a very different platform. But the similarity is that, it both involves risking, mostly, casino's chance is 50/50, and exchange is based on knowledge and patience on the market.

I advice that we should always study the procedures especially the market for us to understand it. Try having a basic knowledge in market technical analysis, and compare your profit from casino.

I do not understand what would you mean. You mean that crypto is one big gamble or that dexentralized casinos experiencing a boom? Yes, that us true, who wouldnt play in a fair casinos?

You cant compare it to casino since trading and gambling is two different things.

Many might experience some lost in crypto bear market how ever its too far comparing it to gambling that you can win or lost everything in just 1 day.

I'm not also sure what he is asking but I think he meant there are similar casinos sprouting every time and so are exchanges.

Its not going to be regulated any time soon probably not even regulated in million years later. Anyone can create casino sites just like anyone can create a coin for their own. Its internet no one forbids you from doing anything unless regulated. Casino and exchange scripts are available for anyone to install in their server.

In certain countries, cryptocurrency is not regulated and restricted and many people are either developing their casinos/trading platform since it is one of the best ways to earn money cryptocurrency. There is no regulation yet in regards to establishing such business in crypto and I doubt if crypto casinos/trading platforms need to pay taxes or any other fees same as traditional businesses, it must be one of the reasons why they opt to create one.

I think you mean "gambling." Yes, if you are unknowledgeable about it, trade is no different from gambling. Because, those who are not in this business see crypto as a money printing machine. Like, wherever he invest money, he is gonna make a big profit. Already this gambling results in loss mostly. But if you find out what is going on before you start trading, why would it look like gambling?

Not 100% sure what you're talking about but lemme guess. You're saying that exchanges these days are similar in operations to casinos, ala Yobit style where the main business is trading tokens, but they also have functions to stake, loan and even gamble like dice.

You know why? The scriptmakers are all the same.

And yeah, trading is the new gambling;)

In its core, every investment is already a gamble. Whether it be stock, cryptocurrency, or establishing a business. So comparing the current market to a casino isn't really wrong. They just vary in degree of risk, and considering the crowded altcoin market where altcoins are having a hard time increasing in price steadily, rather only driven by FOMO and hype, it's just a gamble on where investors would invest their funds. That's why not until some altcoin has been made to revolutionize, Bitcoin would still remain on top of the market.

Glance, yes indeed the same, like gambling. In exchange, someone exchanges his assets for other assets hoping to get a profit.
In casino, someone puts money in to get profit too. But the difference is sometimes gambling in a casino cannot be learned and only based on luck while in exchange we can still learn where the market direction will lead either fundamentally or technically.

I think that in the future almost all online casinos will switch to the blockchain, because it is a more convenient and honest way to participate in such entertainment

It's different , because cryptocurrency is having supply and demands so it can be analyzed technically while the casino is just rely on our luck. Even in crypto we can also use our luck to buy random coin and hoping the price will rise, but that's not the correct way to trade cryptocurrency

What do you mean similar to online casino? If you mean the exchange, I don't think there are significant similarities between a crypto exchange and a crypto online casino. Sure, you can convert coins in crypto online casinos but it is far from the mechanics in a crypto exchange. In a casino, conversion of coins is not made through buy and sell orders where you can name your own bid and buy prices. You cannot also see pairs there. There are very limited coins in a casino compared to an exchange.

Why not start a store? Maybe that could be a start of a change in the crypto industry.
As I see, merchants are still in fear of using the latest technology (which is bitcoin) because of its volatility. That is true, without a doubt.
But, the risk could somehow be profitable and that is why gambling and exchange went to the frontlines.
This guys are all-in. They will risk it for profit and so it happens.

Yes, it is a big casino. because this is not just a normal financial market, this is a manipulated financial + market that is always waiting for its lethal prey to eat it.
The strong pump and dump that makes long and deep candles is often a sign of manipulation. We really should be careful in trading and stay alert with the indicators.

Gambling has always proven to be very fast in adapting to various innovations that began to be developed, gambling is making a transition phase to the blockchain platform, thus providing incentives for the process of digitizing the gambling industry today.
We know that bitcoin was never created specifically for gambling but gradually bitcoin became an idea to create several altcoins that were specifically devoted to the world of gambling, such as eos and tron ​​today.
But the makes cryptocurrency and gambling work together because of the total anonymity of digital currencies, the accuracy and cheapness of transactions, and far better security than traditional casinos requires a lot of sensitive information from gamblers.

We can't define cryptocurrency only as a gambling tool. Our own definition depends on how we use it but generally, it functions as a mode of payment and investment. Gambling is different from investing and trading though there are also similarities due to its volatility. Cryptocurrency is multifunctional and if there will be a massive adoption, we couldn't only use it in gambling but for lots of purposes as well.

My opinion is clear that if we've good knowledge about crypto time to time & reading formula to grow & get good results instead of gambling. I think so.

Maybe what he was thinking of was trading and he was comparing it to a casino that was a long way off and had no similarities.
The casino is gambling when you enter it, expect defeat and you will have no money when you go out.
In trading once you go in you can win or lose but you win more if you know what the token / coin should buy.

Bitcoin casinos have been around for enough time at this point that there really isn’t a question anymore. They are thriving and really giving players what they want and need: the best casino experience combined with ease of use, speed, anonymity and no extra fees.

Remember that in many countries Bitcoin is still seen as being in the Darkside of legal currency and tender, and until it becomes a universally accepted payment method I can't see it making big inroads into the online gaming payment flow. However both gambling and cryptocurrency aren’t expensive toys for rich people, but popular ways to take a rest and gain profit at the same time, and bitcoin casinos are best options because of much handier than common ones.

I believe you imply that crypto enthusiasts "gamble" with their funds when they trade on exchanges based on speculations. The message you are trying to convey is not clear anyway, crypto is not like online casino generally, since you are more prone to lose all your funds easily in online casino comparatively.

well, probably u misunderstanding what is crypto ?
just treat crypto like money, and u understand what is for.
if u say,"i've do that" and u say,"crypto have high fluctuation hardly, i will loss of value if i still hodl my crypto" .
actually money already loss of value as a time goes.
and maybe u say " of course money have a loss of value , but with a long time, not like crypto wich every time is a a heart attack"
but crypto have a constant supply, and money doesn't.
so , for now , yes , maybe u can see crypto is no more than casino online , wich u can lose from 5 minutes ago or win ,
but as the time goes, it will be end,and crypto have a high resistance.

Enough people are using cryptocurrency for gambling, until some rules most people are interested to paly online casino. In some new projects already building VR technology to attract more users in casino. This is the good benefit of decentralize currency. In future more Casino will offering BTC payment rewards.

100% you're right...
i'm believe the coins you're choose next 1-2 years later is gone..
anyone want to bet with me? if i'm say is right ?

I wholeheartedly agree my friend. Even though the stock/crypto market is like taking a gambling, it is well worth the investment. It is much better for one to learn how to invest and trade on the open markets then to throw money at a casino game such as dice or roulette. one can actually learn in a short amount of time the basics fundamentals of investing but it takes a lot of time and practice to become a well seasoned trader.
   I made the terrible mistake of investing $1000 into day trading with no prior experience whatsoever, thinking I was Warren Buffet or something. Ending up losing the shirt off my back and am now down to $100. Lesson learned my friend.  :-[
  If I had actual gambled at a casino, I could have lost it all in the same day instead of over a few months period like I did day trading on Binance.

In my opinion, cryptocurrency is entirely different from casino. Casino is all about gambling but you dont gamble here in cryptocurrency.  Infact, many of those who take cryptocurrency as a gamble lose most times because everything you do has to be calculated if not, you can lose so much in just a day

Investing and gambling are two different things. The former needs to be done with hard work and passion while the latter is cut throat, all-or-nothing decision. Also, most of the time, gambling is for entertainment. On the other hand, investing in crypto needs enough background, analyze the current market, make realistic expectations and outcomes. Though both of them have low chances right now, they're both entirely different from the purpose to the nature of the activity itself.

Can you describe the similarity that you have found with casinos and exchanges? Personally, I haven't seen any connection with that except the risk that we're taking when we gamble and trade.
It looks common today that when someone tells you to invest into bitcoin, the first impression would be gambling your money because of its volatility.

most people who lose their money in crypto called it casino.

because they failed to understand and wanna blame rather than learn more

crypto is very different with casino, it is a fact.

when crypto's going down and down, you still take advantage by placing short position

Wow! This is a nice comparison but, if fact, such a comparison is absolutely wrong and I even can prove it. How? Easy. A player in a casino has a negative expectation not depending on his skills because any casino is built to have a positive expectation vs a player. What about trading or investing? The situation with trading or investing is more difficult because when trading or investing everything depends on experience of a person to make a right decision and consequently your expectation depends on just you.

Well these two are quite alike in a sense of taking the risk, and gambling your profit. You are betting here in a sense of expecting a later on profit. The two are executed differently but if we look upon on deeper context the two lies on a same mean. Trading taking the risk time after time when to buy and sell in a hope of profit, while, gambling games are simply betting in and let the luck be in your favor while taking the risk. What I mean to say is that the two are similar in a sense of taking the risk, and taking the gamble whether to gain profit or not.
You could lost in trading though but you could prevent in a sense of proper monitoring and time of selling. But still there are risk involve and gamble which may also imply to casinos.

To be honest, the statement of the OP is really not clear from the very beginning. We don't know exactly what he wanted here. We are just speculating that he is comparing crypto with casino. But anyway, we give our opinion no matter what.  :P

There's a lot of illegal stuff going on here. All because people feel impunity and nobody can forbid them to create similar platforms. Maybe soon this question is solved, but now we will not be able to do anything with it.

THE FUTURE CRYPTO IS REALLY SAME SCAM LIKE A CASINO , WHERE THE FUTURE OF PAYMENT ???
think about if you want to save crypto just for payment ?
after you open wallet for paying something and you see the fund insufficient ( negative 90% )
do you think its normal ??

Actually the analogy is easy. Most people do consider investing in cryptocurrency, trading, not much different from gambling, even though there are strategies and techniques that must be applied correctly in order to get the maximum profit. If you want to be truly successful with trading, in particular, you must pursue it as a business, not just a game.

What makes you think that they are similar? If you can elaborate your reasoning's here why you are thinking like that the we can give you an appropriate answer to your questions.

Casinos are very different if you are going to compare it to exchanges but if you can elaborate some similarities to the two then we will be happy to give our own opinions and ideas to satisfy your doubts as exchanges are platforms where you can exchange crypto currencies to fiat and vice versa while casinos are focusing on games different games where the player can double their money or lost it.

You might be saying this, because it seems to now be a common phenomenon, that there are many games based projects in the cryptosphere. The reason being that, a lit of them feel that block chain technology can help to bring in the fairness that a lot of gamers desire I. the gaming industry.

different a name but the same..
casino = buy chip and play ( casino makes you lose instantly if you play dice but if you play poker is same)
crypto = buy alt and play ( crypto makes you lose instanly if come into play PUMPnDUMP coin but slowly lose if you long term invest )

For now I don't see any problem for crypto if it's used in online casino since crypto have no no real use-case yet but I disagree with what OP's statement about comparing exchange to online casino because this two are very different platform especially on what they offer to their users. If OP thinks that trading and gambling are the same then he/she is totally wrong because trading needs knowledge to reduce the risk while gambling needs luck to win.

Right, there are so many shitcoins now is really like casino,.
look, another good coins want to listen the exchange but forced to buy token ( ticket lotrey ) if want to listen ( gambling 100% )
buy ticket(token) and hope i got surprise like lotrey but change win is 90% lose..

Crypto trading is similar to stock exchange. People invest into anything to make quick profit. Greed is actual culprit. We get scammed because we are greedy. We dont even know about the project but we start investing into it. In casino, house will always win. Dishonest people will try to steal our money but we can only save ourselves if we can educate ourself regarding crypto. Otherwise we will always be a victim

Because many people want an instant way to produce crypto. This opportunity is seen by people who have capital and then take the initiative to manage an online casino. I don't dare say the future of casinos will be in crypto. Because casinos are not only online but there are also real ones.With the future regulations, I am sure that there will be less and less growth in casino crypto.

Casino project has been all around the internet these past few years, they know the demand for crypto and for casino, so they combined it together for them to be able to earn thru cryptocurrencies as well as from the Casino itself.

Still, we should not do casino just for us to use crypto, we should avoid it as it may lead to trigger for us to lose everything we have, as we know gambling when become addicted is uncontrollable.

Stock exchange is easier to invest since the companies are popular and are all registered in a specific country but it's not a quick profit, It takes time too depending on how we choose where to invest as well how we trade, before I earn in stock I also lose some and add some top-ups to recover, All investment takes time and really depends on our ability so we need to be not a victim especially in crypto that is too wide and speculative.

Most of the people prefer to gamble online with the use of these cryptocurrencies as it is not legalized currency to be utilized for common purposes as fiat.So many spend their coins to earn more money by betting as they want to be rich with its usage.Its very common on various gambling sites.

You might as well go to a casino due to the lack of regulations....

Crypto currencies are being used by gamblers in online gambling games but calling them gambling tool is not very nice. With these, gamblers can not only play but earn assets that are good investments too. But like you have said, crypto currencies major role is of an investment that is used by traders for trading and others usually hold them for a long duration of time. Gambling is just a business where digital coins can be spend.

I really cannot get what you are saying that much but from what you are saying, I was able to interpret it that you mean why are people speculating bitcoin everywhere like it is a gambling game where people just make lots of actions based on speculation, and for now, I think the market is more like a speculative market.

People speculate prices based on what they believe or either by what they have analyzed, although I will agree with you that it is now looking like they are just gambling with values because you see lots of people just making some speculation that is baseless, and you find out that in future, whatever they predict does not even come through or even near where the market direction will go and that is why we have lots of people investing now based on luck.